what happened was his forum passthru cheerleaders that got scammed when his ponzi popped ran screaming to every authority they could and finally somebody at the SEC noticed. Note these same people all trollish extreme libertarians that denounced all regulation until it affected them and they immediately deferred to authority
Doubt it. Pirateat40 was threatening to move anyone who considered legal action to the back of the queue or even drop them altogether, and his cheerleaders seemed to buy into that for the most part.
If memory serves me he tried this stalling tactic for a month or two then just disappeared and even his cheerleaders had to admit it was a scam. Then they found some linkedin info and went after old companies he worked at for info, who were more than happy to tell them what a chronic liar and general weirdo he was to work with. Then the crying to regulators at the SEC began
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what happened was his forum passthru cheerleaders that got scammed when his ponzi popped ran screaming to every authority they could and finally somebody at the SEC noticed. Note these same people all trollish extreme libertarians that denounced all regulation until it affected them and they immediately deferred to authority
Doubt it. Pirateat40 was threatening to move anyone who considered legal action to the back of the queue or even drop them altogether, and his cheerleaders seemed to buy into that for the most part.
If memory serves me he tried this stalling tactic for a month or two then just disappeared and even his cheerleaders had to admit it was a scam. Then they found some linkedin info and went after old companies he worked at for info, who were more than happy to tell them what a chronic liar and general weirdo he was to work with. Then the crying to regulators at the SEC began
Most of the PPT operators promoted and profited off of pirate's scam, and should face legal action alongside pirate.
PPT operators did not have an incentive to go after pirate, unless they had also invested significant personal holdings in BS&T, because:
1) They were investing other peoples' money and taking a fee off the top
2) They could face investigation themselves if they went to the authorities.